Heineken in Haiti Announces Rare $100 Million Investment

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Dutch brewer Heineken announced Friday that it is investing $100 million in its Haiti production plant that makes the popular lager Prestige. The media points out that this investment is significant because many international companies have been reluctant to spend money in Haiti due to a perception that the business climate is hampered by red tape, allegations of corruption, and a flimsy infrastructure. Here are excerpts with a link to the full article below:

But Jose Matthijsse, general director of the National Brewery of Haiti that Heineken owns, said the Dutch company is eager to invest more in the Caribbean country because political stability and cooperation have improved under the current government. Heineken purchased the Haitian brewery in 2011, and owns 95 percent of the company that produces Prestige. The remaining 5 percent is held by Diageo Ireland, the company that makes Guinness stout.

About one-fifth of the new investment has already gone toward construction of a second 24,300-square-foot (2,260) production line that opened December in the same facility in Port-au-Prince. The addition will allow the brewery to double output, for 40,000 more cases of Prestige and other beverages produced every day.

The new production line has also enabled the brewery to introduce a 16-ounce bottle of Prestige. The rest of the investment will be used to further increase lager production, manufacture more bottles and to purchase items such as trucks and generators. [. . .]

For full article, see http://www.foxnews.com/world/2014/04/04/heineken-in-haiti-announces-rare-100-million-investment-for-country/

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